\begin{table}[ht]
\caption{Labor market shock forecasting estimates}
\label{tab:wageAR1s}
\centering
\begin{threeparttable}
\begin{tabular}{lcc}
\toprule
Parameter & Estimate & Std. Error \\ 
\midrule
Autocorrelation & 0.504 & (0.115) \\ 
Std. Dev. of shock & 0.020 & (0.002) \\ 
\midrule
Observations & \multicolumn{2}{c}{16} \\ 
\bottomrule
\end{tabular}
\footnotesize Notes: Bootstrap standard errors in parentheses. We estimate a single AR1 process for both labor market sectors.
\end{threeparttable}
\end{table}
